9 Best Energy Dividend Stocks To Buy Now

2. Schlumberger Ltd. (NYSE:SLB)

Number of Hedge Fund Investors: 66

Oil services company Schlumberger Limited (NYSE:SLB) is one of the best energy dividend stocks according to hedge funds. A total of 66 hedge funds reported owning stakes in the company as of the end of the March quarter. Schlumberger has been paying dividends consistently since 1985. In January this year, the company increased its quarterly dividend by 10%.

Artisan Value Fund stated the following regarding Schlumberger Limited (NYSE:SLB) in its fourth quarter 2023 investor letter:

“On the downside in Q4, our two energy holdings, Schlumberger Limited (NYSE:SLB), the world’s largest oil services company, and EOG Resources, a US shale-focused E&P company, were weak along with the broader sector. We have stringent criteria for business quality, which is particularly important in commodities sectors as these businesses do not control the underlying commodity prices, which can be volatile. We expect Schlumberger to continue to successfully navigate market volatility and deliver on its free cash flow and profit margin growth objectives from combination of activity growth and pricing gains. The stock has been among our top contributors since we initiated our position in December 2020.”